STAMFORD, Conn.--(BUSINESS WIRE)--Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced
that it has closed a new $1.75 billion Senior Credit Facility (the “New
Facility”) on November 30, 2012. The New Facility matures on February
28, 2018, or such later date as may be adjusted from time to time, and
replaces the existing $1.5 billion Credit Agreement (the “Existing
Facility”) which would have matured on November 15, 2013. The New
Facility enhances the Company’s financial flexibility and is expected to
be used for general corporate purposes. The $1.75 billion multi-currency
revolving loan commitment was provided by a syndicate of 27 banks,
including JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., Bank
of America, N.A., HSBC Bank USA, National Association, and Wells Fargo
Bank, National Association, as Lead Arrangers.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel
and leisure companies in the world with 1,128 properties in nearly 100
countries and approximately 154,000 employees at its owned and managed
properties. Starwood is a fully integrated owner, operator and
franchisor of hotels, resorts and residences with the following
internationally renowned brands: St. Regis®, The Luxury Collection®, W®,
Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft® and
ElementSM. The Company boasts one of the industry’s leading
loyalty programs, Starwood Preferred Guest (SPG), allowing members to
earn and redeem points for room stays, room upgrades and flights, with
no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc.,
a premier provider of world-class vacation experiences through
villa-style resorts and privileged access to Starwood brands. For more
information, please visit www.starwoodhotels.com.

Forward Looking Statements

This communication contains forward-looking statements relating to the
terms of the credit facility and the expected use of proceeds from the
credit facility. These forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and are subject to risks, uncertainties, assumptions and
other factors that are difficult to predict and that could cause actual
results to vary materially from those expressed in or indicated by them.
Additional risks and factors are identified in Starwood's filings with
the SEC, including its annual report on Form 10-K for the year ended
December 31, 2011, which is available on the SEC's website at http://www.sec.gov.
Starwood undertakes no obligation to revise or update any
forward-looking statement, or to make any other forward-looking
statements, whether as a result of new information, future events or
otherwise.